[HISTORY: Adopted by the Albany County Legislature 12-8-1977 by L.L. No. 10-1977; amended in its entirety at time of adoption of Code (see
Ch. 1, General Provisions, Art. I). Subsequent amendments noted where
applicable.]
Pursuant to General Municipal Law § 22, as amended,
the County of Albany is authorized and empowered to claim against
the proceeds of a policy of fire insurance insuring the interest of
an owner and issued on real property located within the County of
Albany to the extent of any tax lien thereon, and such claim shall
constitute a lien against such proceeds and as to such proceeds be
prior to all other liens and claims except the claim of a mortgagee
of record named in such policy.
It is hereby provided that the County of Albany shall release
or return to the insured any amount to which the County would otherwise
be entitled to claim under General Municipal Law § 22, provided
that the insured agrees in writing with the County of Albany to restore
the affected premises to the same or improved condition that it was
in prior to the time that the lien of the County against said proceeds
arose, subject to such conditions as the County Legislature, by resolution
directing the collecting officer to make such a claim, shall provide
to guarantee performance of such obligation, including, but not limited
to, an agreement to deposit such proceeds in an escrow account or
that the insured shall obtain a performance bond.
